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Enhanced gas recovery (EGR) is to increase the efficiency of the process of recovering natural gas, natural gas liquids, and other condensates. Enhanced gas recovery utilizes techniques such as fracturing, waterflooding, and gas injections such as CO2 injections to achieved increased gas production from the reservoirs. Enhanced gas recovery improves extraction efficiency; mostly, nitrogen gas has been used to deploy this method. CO2 injection might be used to enhance gas production from the existing reservoir, so-called enhanced gas recovery (EGR). The principle of EGR is that an injected fluid (e.g., CO2) forms a front that pushes the natural gas to the production wells.
Based on the product type, the market is segmented into nitrogen-based EGR, carbon-dioxide based EGR, and others. Carbon-dioxide based EGR leads the market as it increases the natural gas recovery. Also, the benefits of carbon dioxide injected EGR is higher yield and reduction in greenhouse gas.
Based on the application, the market is segmented into the oil and gas industry, construction industry, residential, and others. The oil and gas industry leads the market as, EGR method is predominantly used in the extraction of the gases and oils, like natural gas. Also, this method is used to increase the extracted gas volume to a large extent in the oil&gas industry.
The key driver of this market is the growing demand for natural gas, which is majorly used to generate electricity, fuel the vehicles, and in power industries. Natural gas is now increasingly preferred over other conventional fossil fuels as they cause significantly less pollution and are more abundantly available, both onshore and offshore. Other factors that drive the market are, enhanced gas recovery (EGR) improves extraction efficiency, and EGR decreases the production costs in gas extraction and production (E&P).
On the other hand, the heavy investment required to build the EGR mechanism for the production of the gas is the major factor restraining the growth of the market. Also, the embedding of carbon dioxide with natural gas as a result of the injection of gas for extraction is another non-favorable factor for the market.
Key Market Driver -
Growing demand for natural gas
Key Market Restraint -
Heavy investment to build the EGR mechanism for production
Some of the major companies in the enhanced gas recovery market are Linde Engineering, Dow, Praxair, Inc., ADNOC Group, TIORCO, Nalcor Energy, Carbon Clean Solutions, Messer Group, Air Products, and Interwell.
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The global enhanced gas recovery market is studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, an increase in the demand for natural gas in industrial and residential applications will uplift the market. Also, 40% of thermal techniques are used for the extraction of natural gas, i.e., in EGR. In Europe, owing to the increase in the gas extraction activities in the countries like the U.K, Germany, and France along with the development in the technology, will lead to the healthy growth of the market. In the Asia Pacific region, natural gas consumption is increasing in India, China, and Singapore due to an increase in the industrial and residential sectors will provide a positive influence on the growth of the market. Also, new shale gas reserves discoveries in China is expected to boost the market. In Middle East&Africa, huge oil & gas reserves in countries like the UAE, Qatar, and Iran is expected to trigger the gas extraction activities in the near future.
By Product Type
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